Home > News >
CONVATEC LAUNCHES A TAKEOVER BID FOR KINETICS CONCEPTS.
ConvaTec, the company controlled by VC/PE firm Avista Capital Partners, has launched a takeover bid to control the U.S. manufacturer of medical equipment and hospital furniture, Kinetics Concepts, in an around €3,500 million deal ($68.5 per title). To carry out the deal, ConvaTed would count with Goldman Sachs and Jeffries Group funding.
In mid July, a consortium led by private equity firm Apax Partners agreed to acquire the North American manufacturer (see news). Kinetics Concepts operates in Spain through its subsidiary Kinetics Plus which has an average staff of 9 employees. Last year reached a €3.5 million turnover.